Opinion Studies – An Overview
Opinion studies are surveys or polls conducted by market research companies to assess the public opinion. The sole purpose behind conducting such opinion studies is to gauge the public opinion, perception and feelings about various issues related to social, business and political importance affecting the daily life of the people.
The key features of opinion studies
- Gauging wide public opinion
- Companies are able to get a broader view about the population at large from the sample studies undertaken and thus arrive at fairly accurate result
- Apply some of the same techniques as used in market research
- Organizations can get a fairly clear idea about the social or political factors influencing the demand and supply
- Opinion studies can be conducted at regular intervals as per the demands of the constantly changing nature of society
Purpose of undertaking opinion studies
The significance of undertaking opinion studies by organizations or market research companies is to gather specific information from consumers or people at large. This could be for any one or all of the following purposes:
- Measurement of customer satisfaction
- To understand the impact of company’s brand or to gauge the awareness among the customers from the advertising made or to get a feedback about the effect of certain television or radio ads
- Opinion studies also aid a company to get pre-hand information about how well a new product would be received in the market if introduced or how much a consumer would end up paying for the specific product
How opinion studies help organizations
Opinion studies conducted by professional market research companies such as iResearch Services help organizations to measure the satisfaction consumer gets from the use of a specific product or service. The method adopted for the same is by providing the consumer with a questionnaire and rate the attributes of the specific product such as durability, quality, convenience in usage, features, product quality and manageability.
The phone survey or online market survey are other popular methods undertaken by business organizations, market research companies prior to the launch of a new product or service. The opinion surveys for new products are generally undertaken among the existing customer group itself. Say for example, pharmaceutical companies prefer taking the opinion or feedback of doctors before the launch of a new medicine or drug.
Advantages of undertaking opinion studies
The findings from the opinion studies undertaken by organizations or market research companies such as iResearch Services enable senior management or executives to act upon it by implementing some of the business strategies. These findings sometimes even motivate the companies to manipulate the price of the product or introduce new features as per the requirement of the consumer.
The opinion studies sometimes even help organizations to have clear understanding about the demographic demarcations such as the male-female ratios or the number of males or females in specific age group. Results of such specific demographic based studies enable companies in adopting specific market strategies and target their promotional and advertising efforts towards the same.
All in all, opinion studies act as a perfect guide for organizations in taking fruitful business decisions to achieve organization goals and consumer satisfaction. If you need any assistance with opinion studies for your organization, get in touch with iResearch Services, a professional market research services provider in India, US and UK.